Africa and the Middle East: Crypto and Blockchain News Roundup, 27th April to 3rd May 2018

Africa and the Middle East

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

He said, “The United Kingdom, as an example, has set up several cryptocurrency organisations to bring more legitimacy to the industry… Legitimate regulation on cryptocurrency may increase confidence on existing users and possibly induce an investor appetite for potential users and thereby cause a rise in demand and, as mentioned above, the more demand for and confidence in the commodity, the more value it will earn.”

The move follows similar decisions around the world including the establishment of a special task force in the UK for this exact purpose. It said in a statement this week:

“There is a need for regulators to devise a common approach towards handling issues revolving around cryptocurrencies and initial coin offerings (ICOs). A joint workgroup by financial sector regulators could be put in place to tackle issues around cryptocurrencies and ICOs.”

The benefits of entering this collaboration include access to commercial applications of blockchain technology and using Corda, a custom Blockchain developed by the R3 initiative. According to Hisham Okasha, the NBE chairperson, it allows the bank to“better assess the value this technology can bring to the banking industry and the impact it can have on faster and more cost-effective services to our customers for future implementation.”

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